Better You Fitness Center Profit and Loss Statement Year 1Year 2Year 3 Income Memberships$100,000$275,000 $395,000 Clothing Merchandise85,000111,300126,000 Other4,2505,3506,140 Total Income$189,250$391,650 $527,140 Expenses Cost of Sales$75,000$92,500 $65,000 Payroll75,000180,000250,000 Advertising15,27017,16315,879 Education & Training10,00012,00010,000 Insurance15,00015,00015,000 Rent25,00025,00025,000 Repairs & Maintenance5,00010,0003,000 Utilities12,00013,20014,520 Supplies3,0003,2003,800 Total Operating Expenses$235,270$368,063 $402,199 Net Operating Profit$(46,020)$23,587 $124,941
Better You Fitness Center Balance Sheet Year 1Year 2Year 3 Assets Bank Account$81,696$147,907 $260,409 Accounts Receivable41,30065,66774,340 Gym Equipment15,0958,0009,000 Merchandise Inventory40,00055,00060,000 Total Assets$178,091$276,574 $403,749 Liabilities Accounts Payable$18,134$16,244 $18,213 Current Loans Due26,00026,00026,000 Long Term Equipment Loan174,000148,000122,000 Total Liabilities$218,134$190,244 $166,213 Retained Earnings(40,043)86,330237,536 Net Worth$178,091$276,574 $403,749
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